Great news for all the passive income devotees: in August, HitBTC expanded the list of staking coins and tokens based on the most popular requests. The new additions include CVX, STETH, EMC, MINA, SMART, HYDRA, and AXS with up to 40% APY. In case you already hold some of these tokens, you can use your HitBTC account to put them to work. Otherwise, you can easily buy them on our platform and start your staking journey now.
In 2022, staking is still one of the most promising activities for anyone interested in earning extra income via crypto. As opposed to holding, staking allows users to generate yields on top of long-term investments. Staking is not focused on short-term price fluctuations but serves perfectly for those who like to plan ahead.
Staking suggests that you do not need to actively trade in order to make income. Instead, you can lock your assets in a staking pool for a certain period of time and earn rewards. If you compare staking interest rates with mainstream banks, you’ll see that the former are way more profitable. The rewards range from 1% to over 100%, but realistically one should aim for 10% annually.
HitBTC’s Staking Additions
If you’re looking for the best crypto trading platform that lets you manage your assets conveniently, HitBTC will most likely hit all the boxes. Apart from being highly secure and easy to use, we continuously add functional improvements in accordance with popular demand.
Just like that, we’ve added seven new staking coins to diversify your portfolio even further.
Axie Infinity (AXS)
If you’ve ever looked into crypto gaming, you must have heard of Axie Infinity before. A blockchain-based trading and battling game partially owned and operated by its players has been a major hit for several years. Keep in mind that apart from staking, AXS holders need to vote and play to claim their rewards.
Convex Finance (CVX)
Convex Finance (CVX) is a trending DeFi protocol enabling Curve liquidity providers to get their share of trading fees even when they aren’t staking liquidity on Curve. Liquidity providers, in turn, can stake with Convex and receive rewards.
Lido Staked ETH (STETH)
Lido Staked ETH (STETH) is Lido’s tokenized form of staked Ether. Lido is an Ethereum-focused liquid staking solution backed by several major staking providers. One of its key features is the ultimate inclusivity in the staking process, regardless of how much ETH you’re willing to lock.
Emercoin (EMC) is a cryptocurrency native to the Emercoin blockchain that designs Decentralized Software Development Kits. The ecosystem lets businesses and individuals use EMC to pay for its services. Despite the fact that Emercoin is powered by the PoS protocol, EMC can also be mined.
Mina (MINA) is a utility token of a lightweight blockchain protocol designed to curtail computational requirements, enabling DApps to run smoother. One of the Web3 builders, Mina uses zk-SNARKs to create a decentralized network and open programmable currency allowing anyone to participate, build, and exchange.
SmartCash (SMART) is a crypto platform focused, among other things, on fast transactions and merchant adoption. With community being the underlying base of the platform, SmartCash allows users to create their own projects and promote SmartCash as a global coin.
Hydra (HYDRA) is a permissionless, open-source, proof-of-stake blockchain built on top of QTUM, Bitcoin, Ethereum, and BlackCoin’s PoV v3. It features adaptive supply, fixed fees, high scalability, smart contract compatibility, and democratic governance. HYDRA stakers receive a high economic stream through block rewards, shared by the blockchain.
The HitBTC team monitors the market regularly, aiming to deliver a smooth customer experience and meet all of your needs, be it spot trading, derivatives, or even staking. Our platform offers an easy, intuitive interface suitable for traders and investors regardless of their background.
Сrypto wallet App
The HitBTC crypto wallet is a free and simple solution for beginners.
Download our crypto wallet app for Android or iOS.
Fees and Limits update
We have recently updated our fees and limits. For the latest terms, please visit the fees and limits section on our website here.
HitBTC Mobile App
Don’t forget that you can trade on our platform from your mobile device. Start today by downloading the HitBTC App on Android and iOS.
This article came directly from HitBTC, at https://hitbtc.com/blog/hitbtc-adds-seven-new-staking-coins-with-up-to-40-apy/